The Press Democrat
By Bill Swindell
A State Assembly committee approved two wildfire-related insurance bills Wednesday, including one that would mandate carriers to provide a full replacement cost estimate to policyholders on a regular basis.
The Assembly Committee on Insurance unanimously approved both bills. They are part of a package by North Coast lawmakers to address the aftermath of the October wildfires, where a recent survey found two-thirds of fire survivors were underinsured in their structure coverage.
Marc Levine, D-San Rafael, sponsored the measure, AB 1797, that would ensure that homeowners are provided an updated replacement cost estimate for their home. Carriers are not mandated under current law to produce or regularly update a replacement cost calculation for homeowners.